Immunome, Inc. (NASDAQ:IMNM) Short Interest Down 6.4% in September

Immunome, Inc. (NASDAQ:IMNM) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 12,440,000 shares, a decline of 6.4% from the August 31st total of 13,290,000 shares. Approximately 25.4% of the company’s stock are sold short. Based on an average daily volume of 767,000 shares, the days-to-cover ratio is presently 16.2 days.

Insider Activity at Immunome

In other Immunome news, CFO Max Rosett sold 14,380 shares of Immunome stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the transaction, the chief financial officer now owns 47,476 shares of the company’s stock, valued at $760,090.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Max Rosett sold 14,380 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares of the company’s stock, valued at $760,090.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jack Higgins sold 3,524 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the transaction, the insider now owns 16,000 shares of the company’s stock, valued at approximately $222,880. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Institutional Trading of Immunome

Several institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Immunome during the second quarter worth $81,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Immunome during the second quarter worth approximately $97,000. Arizona State Retirement System grew its position in Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after buying an additional 918 shares in the last quarter. EntryPoint Capital LLC increased its stake in Immunome by 21,864.0% during the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after acquiring an additional 5,466 shares during the period. Finally, AQR Capital Management LLC raised its stake in Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after purchasing an additional 4,129 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Immunome Stock Down 7.5 %

IMNM opened at $13.52 on Wednesday. Immunome has a 12-month low of $6.93 and a 12-month high of $30.96. The business has a 50 day moving average of $14.57 and a 200-day moving average of $15.54. The stock has a market cap of $810.78 million, a price-to-earnings ratio of -1.79 and a beta of 1.77.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.11). The company had revenue of $2.36 million for the quarter, compared to analyst estimates of $2.62 million. Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. As a group, analysts expect that Immunome will post -1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IMNM. Piper Sandler cut their price objective on Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research report on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome has a consensus rating of “Buy” and an average price target of $29.00.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.